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Ade has to settle a debt, for which scheduled debt payments of $3800.00 was due seven months ago, ...

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Ade has to settle a debt, for which scheduled debt payments of $3800.00 was due seven months ago, ...

Ade has to settle a debt, for which scheduled debt payments of $3800.00 was due seven months ago, $4700.00 was due two months ago, and $8800.00 due in five months. Debt has to be settled by two equal payments now and three months from now respectively. Determine the size of the equal replacement payments at 4.9% p.a. compounded monthly.
A) $8650.00
B) $8635.47
C) $8688.25
D) $17 270.93
E) $17 323.72

Textbook

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

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ikrabbe Author

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Smart ... Thanks!

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this is exactly what I needed

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